Bank of Maharashtra tops PSU lenders’ list in Q2 Credit Growth

Bank of Maharashtra tops PSU lenders’ list in Q2 Credit Growth : According to published quarterly numbers of public sector banks (PSBs), Bank of Maharashtra (BoM) has emerged as the top performer among public sector lenders in terms of loan growth in percentage terms during the second quarter of 2022-23.

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BoM has recorded a 28.62% increase in gross advances at Rs 1,48,216 crore at the end of September 2022.

Union Bank of India came in second with an increase of 21.54 percent to Rs 7,52,469 crore. The largest lender in the nation, State Bank of India, took third place with an 18.15% increase in gross advances. However, SBI’s total loans were almost 17 times higher at Rs 25,47,390 crore as compared to Rs 1,48,216 crore of BoM in absolute terms.

BoM had the highest increase of 22.31 percent in Retail-Agriculture-MSME (RAM) loans during the reviewed period, followed by Bank of Baroda with 19.53 percent and SBI with 16.51 percent. BoM led the list for low-cost Current Account Savings Account (CASA) deposits with 56.27 percent, followed by Central Bank of India at 50.99 percent. BoM and SBI with 3.55 per cent Net Interest Margin (NIM), a key profitability parameter, stood at the top among PSBs. Bank of India and Central Bank of India came in second and third, respectively, with 3.49 and 3.44 percent.

It was followed by Union Bank of India, State Bank of India.